Uber Competitor Careem secures $200 million in funds from Saudi and Japanese investors

Careem, the Middle East-based ride-hailing company, said on Thursday it had secured $200 million in new funding from existing investors, including from Saudi Arabian billionaire Prince Alwaleed bin Talal's Kingdom Holding.

Saudi Arabia

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Saudi Arabia’s GDP projected to jump 30% by 2023: IMF

Saudi Arabia’s gross domestic product (GDP) is expected to jump 29.53 percent to $889.5 billion by the year 2023 while comparing with the year 2017. ...



US receives $100M for YPG in Syria from Saudi government as Pompeo lands in Riyadh: report

The delivery of $100 million is considered as the latest move by Saudi Arabia in support of the partnership between the U.S. and YPG. ...


Ride-Hailing Apps

Careem secures $200 million in funds from Saudi and Japanese investors

Dubai-based ride-hailing company Careem said it had secured $200 million in fresh funds from existing investors that include Saudi billionaire Prince Alwaleed bin Talal's Kingdom ...


Future Investment Initiative

Top Bankers Quietly Prep for Saudi While Their Bosses Skip Forum

Privately, dealmakers in the region are anxious that pulling out will damage lucrative client relations in a region where loyalty during difficult times is rewarded, ...



Pompeo Remarks to Traveling Press

We talked about the importance of the investigation, completing it in a timely fashion, and making sure that it was sufficiently transparent that we could ...


Saudi Economy

Khashoggi crisis threatens to alienate foreign firms remaking Saudi economy

"That's the main point that people really miss when they talk about foreign investment in Saudi Arabia. They think Saudi Arabia is looking for money ...



Saudis, Kuwait Fail To Agree On 500,000-Bpd Joint Oil Fields Restart

Due to operational divergences and geopolitical divisions, Saudi Arabia and Kuwait haven’t made any progress in talks about the potential restart of jointly operated oil ...


Cyber Security

After 2012 hack, Saudia Arabia relied on US contractors

Saudi Arabia is “no different than the rest of us. We are under constant attack, we are under constant threat. That is the world that ...


Jamal Khashoggi

Turkish forensic teams search Saudi consulate for clues

Turkish forensic teams searched the Saudi consulate in Istanbul overnight as the investigation into the disappearance and alleged murder of Saudi writer Jamal Khashoggi deepened. ...



Dutch call off Saudi trips due to concern over missing journalist

Dutch Finance Minister Wopke Hoekstra on Thursday pulled out of next week’s investment summit in Riyadh and a Dutch trade mission to Saudi Arabia in ...



Saudi’s Samba beats forecasts with 13.2 pct Q3 profit rise

Samba Financial Group, Saudi Arabia’s third-largest bank by assets, reported a 13.2 percent rise in third-quarter net profit on Thursday, beating analysts’ forecasts. ...


Saudi +

Regional and related topics

Global Oil Markets

Oil falls below $80 on rising U.S. stockpiles

U.S. crude inventories rose 6.5 million barrels last week, the Energy Information Administration said on Wednesday, the fourth straight weekly increase and almost three times ...


Twitter Trolls

Twitter releases millions of Russian and Iranian troll tweets

"The scale and scope of the Russian troll farm drastically outweighed the scale and scope of the Iranian troll farm,” said Graham Brookie, the director ...


China in the Region

The New Silk Road Runs through the UAE

This is not the typical hydrocarbons-for-manufactured-products relationship. Nor is it like other “Belt and Road” investor-investee relationships that position Beijing as either transformative benefactor (witness ...



Can Energy Be Secure, Affordable, and Sustainable as the Sector Transforms?

In a fossil fuel-driven world, energy security was ensured by the security of energy supply. But technology has led to increased supply of natural gas ...


Anti-ISIS Campaign

Foreign fighters still joining IS in Syria: US general

Even though the jihadist group's territory has shrunk to a fraction of what it once was, new followers arrive, mostly over the Turkish border, at ...



Violence Shakes Afghans’ Security Ahead of Elections

Afghans have been waiting for years to vote for new lawmakers, but security concerns may keep some of them away from the polls this weekend. ...



Iran says it killed ‘mastermind’ behind military parade attack

The Guard said they killed Zaha and four other people in Iraq, in a statement released through Iranian state media, according to Reuters. One state news ...


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